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90 Day Wholesaling Lease Options Action Plan

Note: Take this document and make it your own. You don’t necessarily have to
do everything on this list. But it’s a good place to start.
1. Work on Getting your ealtor!s "icense
a. Go see http:##www.eal$state$%press.com. There are many sites that
have on&line education courses ' depending on your (tate.
). *ind an investor +riendly )roker. ,sk around your local $-,. Tell
people what you are doing.
c. (Note: Getting a license is not required, but is a very good idea.
Remember, if you don't want to get your license, find an investor
friendly Realtor at your local REI and start !artnering wit" t"em on
your deals.#
.. /evelop a Business 0lan # ,ction 0lan
a. Goals1 marketing plan1 )udget1 organi2ation structure1 etc
). /oesn’t have to )e complicated. You 3ust need to write down an
,4T-5N 0",N.
c. 6eep it simple.
d. 4reate a 7arketing 0lan8
e. 7arket ,nalysis
+. /etermine your schedule & the days and times you will work on your
)usiness. (et aside time every day when you will do your marketing.
g. 4ash *low # Budget
9. 4reate an ""4 & most (tates have a way to create an ""4 on&line.
:. 5pen a )usiness checking account
;. <ire a local investor +riendly attorney =or 0re&0aid "egal> to review our
contracts. Where do you +ind an investor +riendly attorney? ,sk around +or
local success+ul investors # $-, in your area.
@. 4reate Your 7arketing ' =in order o+ importance>
a. 0hone (cripts ' Write up a simple phone script that +its you +or when
you call home owners.
). *ollow Ap $&7ail # "etters ' write up a template letter or email to +ollow
up +rom phone calls
c. -nitial $&7ails to (ellers ' Write up several di++erent email scripts to
send to (ellers on 4raigslist. =Note: don’t copy mine8>
d. 5n&"ine ,ds ' place Buyer and (eller ads on 4raigslist1 Backpage1
6i3i3i1 etc1 to attract motivated sellers and )uild a tenant )uyers
data)ase
e. *lyers ' place them everywhere you can
+. Brochures ' +or (ellers1 7ortgage Brokers1 ,ttorney!s1 etc1 to hand out
to people e%plaining your program and how you can help
g. (igns ' 5rder some signs +or selling houses ' yard signs B )andit
signs ' keep it simple.
C. (tart calling *or ent and *(B5 ads +or possi)le "ease 5ptions. Probably
the most important step!!!!
D. 4reate a We)site. *ind someone on www.o/esk.com to )uild you a we)site.
6eep it simple. Build one we)site +or )uyers and sellers. 4opy mine i+ you
want =www.entTo5wn(T".com>.
E. (tart developing your team:
a. eal $state Broker ' one that is an investor or works with investors.
4heck our your local $-, and ask around +or investor +riendly
)rokers.
). 7ortgage Broker ' one that is or deals with investors and is su)&prime
lender
c. 4redit epair (pecialist ' ask your mortgage )roker who they
recommend
d. (ign up +or 0re&0aid "egal
e. Title 4ompany#4losing ,gent ' +ind one that does dou)le#simultaneous
closings. ,sk around your local $-, who other investors use.
+. 40, # Bookkeeper ' one that understands real estate
g. 0roperty 7anagement 4ompany ' great resources +or tired landlords1
and may)e you can use them +or your own properties
h. 0roperty -nspectors B <andymen. Note: you 3ust need these guys to
recommend to people.
i. Notary =check your local )ank>
3. 4oach # 7entor ' i+ you don’t have one1 get one8
1F. Goin a eal $state -nvestors Group ' within the ne%t 9F days8
11. Network with at least 9 other +ull&time wholesalers in your area in your +irst 9F
days. ,sk them what they do with all the leads they get that have no eHuity or
won’t drop their price as low as they need to )uy it. Tell them you will gladly
take those leads and pay them I;FF & I11FFF +or them.
1.. Network with at least 9 mortgage )rokers in the +irst 9F days. ,sk them what
they do with the re3ected applications +or mortgage. ,sk them i+ you can work
some kind o+ deal where you will pay the 7ortgage Broker some re+erral +ee
=i+ they will allow it>1 or reHuire the tenant&)uyer to go through their credit
repair company =i+ they have one>.
Miscellaneous Action Items
1. (tart +arming your areas. "earn your market. Where do people want to live?
Where are the rental neigh)orhoods? Where are most o+ the +irst time home
)uyers )uying homes?
.. Become +amiliar with the 7"(.
9. 0ractice8
a. 0ractice role playing using your scripts +or Tenant&Buyers and (ellers.
). 0ractice writing contracts
:. eview Wholesaling "ease 5ptions course and 3oin in on con+erence calls.
;. To really +ire up your marketing1 start creating a postcard B yellow letter
campaign
a. Get e%pired B vacant 7(" listings +rom your ealtor#Broker
). Get properties with ,)sentee 5wners
@. ,+ter you have done some marketing on your own and you know what works
)est +or you1 hire a Jirtual ,ssistant to start doing your marketing +or you.
a. www.odesk.com
). www.elance.com
c. www.4raigslist.org
7. (end Goe 7c4all a copy o+ your +irst check to
3oeKwholesalingleaseoptions.com
D. eview all these steps again
/o you have a coach yet?8 /o you still need help?8 4all me K 91:&.@@&1..1
($an you t"in% of anyt"ing else t"at I s"ould add to t"is s"eet& 'et me %now(
)"an%s.#
Goe 7c4all
Wholesaling"ease5ptions.com
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